Aegis Capital Starts NephroGenex, Inc. (NRX) at Buy

Aegis Capital initiates coverage on NephroGenex, Inc. (NASDAQ: NRX) with a Buy rating and a price target of $25.00.

NephroGenex is an emerging pharmaceutical company developing a novel small molecule,Pyridorin, for the treatment of nephropathy (kidney disease) in patients with Type 2 diabetes, analyst Raghuram Selvaraju, Ph.D. notes. They are expected to to imminently begin dosing patients in a Phase 3 trial of Pyridorin™ for diabetic nephropathy, which is likely to complete enrollment early next year and report interim data before the end of 2015.

"In our view, positive results could catalyze a transformative licensing agreement or an acquisition of NephroGenex by an established
pharmaceutical company," the analyst said.

Selvaraju said diabetic nephropathy constitutes an appealing market niche. It is estimated that there are roughly 25mm individuals in the U.S. with diabetes, with an additional 60mm diabetics across Europe. He believes that the target market for Pyridorin™ could be as high as 10mm subjects in the U.S. alone. Peak sales for the drug could easily exceed $1bn in only the U.S. market.

For an analyst ratings summary and ratings history on NephroGenex, Inc. click here. For more ratings news on NephroGenex, Inc. click here.

Shares of NephroGenex, Inc. closed at $5.77 yesterday.

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